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boehner has been very clear it's the senate's turn to act. senate dems aren't taking that bait. they feel like they'll put something on the floor. if they don't have republican consent for it, they will have to pull it or see it go down in flames and then republicans can point to their failure and say, hey, look, they failed, too. so democrats are wary of kind of falling into this trap that republicans they feel are trying to set for them and so there's this kind of staring contest up here where everybody is looking at everybody and it's like watching a slow motion car crash. >> using that metaphor of a staring contest, can you see anybody blinking? everybody thought -- i guess they fought first of all that boehner would blink and he'd tyke on his tea party and say i only want 50 or 75 votes i don't need you crazy people i just need a few normal people and we'll get 150 democrats and we'll pass something. he didn't blink and do that. is there any chance he will before monday? >> i think there's a chance if harry reid and mitch mcconnell can blink together, they can come to agreement to br
a wonderful holiday because the president's is about to end. boehner and the boys? what's the rush? ♪ >> first of all, we want to say merry christmas. >> president obama is cutting short his christmas break with the fiscal cliff looming large. >> the fiscal cliff gets closer. congress now has six days left to make a deal. >> aloha, hawaii. >> to my republican colleagues, the ronald reagan model is if you get 80% of what you want, that's a pretty good day. >> they were this close. they were this close to a solution. >> he's going to get tax rate hikes. >> are we going over the cliff? >> i believe we are. >> be republican and be conservative and pass a bill that cuts tax. >> boehner has no control over his extreme right wing faction. >> should anybody's taxes be raised at this point? answer yes or no. >> no. no. ♪ >> we begin as president obama and the senate head back to washington set for one last effort to avert the first fiscal cliff. aloha means good-bye for the president as he packs bound for the white house tonight. the president cutting short his vacation leaving michelle and the girls
. >> months and months of talks between the president and boehner, both times boehner could not deliver because they refuse because of grover norquist to allow any tax revenues whatsoever. they cannot cross over the threshold that has been built by grover norquist. >> grover norquist joins us now exclusively here on cnbc. grover, we just heard you are the target of those comments, but did harry reid get it wrong, because i thought that your organization actually gave its blessing to boehner's plan "b." >> reid has it wrong on a number of levels. the first, of course, is that the pledge that many congressmen and senators have made to oppose tax increases is made to the people of their state, not to me. in fact, harry reid now has the republican senator joining him from nevada who won because he made that commitment. he took the pledge, and the democrat that harry reid supported attacked him for taking the pledge, and the people of nevada said we want a senator who will stand with us against harry reid's tax increases, so -- and, of course, the issue that came up with plan "b" which was m
-cabrera in for larry kudlow. this is "the kudlow report." speaker john boehner calls the house back into session for sunday night. that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of
of representatives, john boehner has basically given his republican membership to choices, either to go ahead and vote on an amendment to the senate bill passed in those early hours, or to go for a straight what they call up and down vote which means members vote as they see fit. the feeling among democrats is that there are enough republicans and house to join with them to make sure it passes so that president obama can sign it into law. we are waiting to hear what kind of vote and if there will be a vote. they convened here this morning at about midday. that is now seven hours ago. i think what we are seeing as about seven hours of printing from republicans in the house. i am hearing that people are softening their stance again, giving up on the idea of amending the senate bill and going for a straight up or down vote. it remains to be seen whether it actually advances. >> the amount of political bickering is extraordinary. >> it is political bickering. we have had seven hours of that and the feeling is that it is dying down zero little bit. eric cantor is the majority leader in the house.
obama cutting his vacation short to avoid the fiscal cliff but house speaker john boehner says the people who need to take action are not in the oval office. >>> as the investigation continues into the deaths of four americans in libya we're learning people who were initially blamed are back on the payroll with little or no punishment. >>> unbelievable video. some aquariumgoers getting way too close to a real live shark. as close as you can get without becoming dinner. it is all "happening now." harris: hello, everyone, i'm harris faulkner, in today for jenna lee. jon: nice to have you up here in the big studio instead of down in the newsroom. harris: good to be here. jon: i'm jon scott. there is deadly weather pounding the united states. a powerful winter storm bringing snow and driving rain to the northeast. blizzard conditions in some areas. it is the same system that brought winter storms and tornados to the south and midwest. at least 12 people have died in this system. we're seeing major travel problems today as well. some areas are getting slammed all night long. anna ko
early everything that is coming out of d.c. is about blame. not answers. >> speaker boehner should call members of the house back to washington today. he shouldn't have let them go in fact. they are not here. they are not here. john boehner seems to care more about keeping his speakership than about keeping the nation on firm financial footing. >> harris: a spokesman for john boehner fired back "senator reid should talk less and legislate more." and senate minority leader mcconnell saying we should have worked all this out months ago. >> and republicans aren't about to write a blank check or anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> harris: tonight, that is exactly where we stand. at the edge of a cliff throwing blame for how you we got here. a lot of finger pointing and no answers as i said and just days remaining until tax increases and spending cuts all kick in and we all feel the pain. mike emanuel live with the news for us tonight on capitol hill. top democrats seem to be suggesting they cannot cut a deal without republican he
ago when speaker boehner had a plan to raise taxes on those earning more than $1 million, the feeling was that he had about 190 republican votes. if the will of 190 holes, then you'll get a -- then you'll get an oath -- if the 190 holds, then you will get a majority. it again, one thing we have learned in this game is that nothing is assured. host: now there is work to be done for this 113th congress. what is the dynamic there? guest: the democrats picked up a few seats in the senate. it is 55-45 at the moment. if john kerry is confirmed as secretary of state, then it goes to 54. democrats have a little more strength. the president gets inaugurated january 20, 21st. then we are back to fighting over the debt limit, the sequester, the continuing solutions. it goes on and on. host: give us the highlights of what was approved by the senate this morning. guest: the bush era tax rates continue for everybody except those individuals earning over $400,000 and families earning over $450,000. they want to bring the levels back to 39.6%. in addition, several other things. the alternative minimu
an obligation to do the best we can and that was made very clear. >> brown: house speaker john boehner aides said if the senate passes a bill the house will take it up and either accept or amend it and a short time ago president obama appeared in the white house briefing room with a statement. here is some of what he said. >> we had a constructive meeting today. senators reids and mcconnell are discussing a potential agreement where we can get a bipartisan bill out of the senate over to the house and done in a timely fashion so that we met the december 31st deadline. but given how things have been working in this town, we always have to wait and see until it actually happens. the one thing that the american people should not have to wait and see is some sort of action so if we don't see an agreement between the two leaders in the senate, i expect a bill to go on the floor. and i've asked senator reid to do this, put a bill on the floor that makes sure that taxes on middle-class families don't go up. that unemployment insurance is still available for 2 million people, and that lays the ground
's horribly low expectations of what they can do? what will prove stronger for obama and boehner? the barrels they're riding in or the power of niagra falls itself? joining me now is politico's jonathan ryan. how about an answer on that one? what's going to protect these guys more? the low expectations people have about them getting anything done or failing to do what they set out to do. they all set the deadline. they have the -- what do you call it. the stakes are clear, the payroll taxes, income taxes, you name it. they put it all together. and if they blow it, who's going to get hurt the most? >> well, i think the republicans right now are hammering themselves in the foot over and over and over again. at some point they may figure out how to stop doing that. but in the short-term doesn't look like that's happening. i think the low expectations right now are only helpful to them if they can get a deal done. it's not clear that can happen. they may even fall short of these low expectations they've had for two years now essentially both sides the white house and the congress advocating their
they wouldn't filibuster over here that he would support and that boehner would support, if it were reasonable, but right now we haven't heard anything. i don't know, and it's none of my business, i guess, although i am very serious, if the speaker and the majority leader, the republican leader over here are even talking. i mean, what's going on here? mr. president, you can't legislate with yourself. we have nobody to work with, to compromise. that's what legislation is all about, is the ability to compromise. the republicans in the house have left town. the negotiations between the president and the speaker have fallen apart as they have for the last three and a half years. we've tried mightily to get something done. just go over what the little drill here, mr. president, to remind everyone how unreasonable the republicans have been. senator conrad and judd gregg came up with a proposal to pattern what they wanted to do after the base closing commission. commission would be appointed and they would appoint back to us, no flust years, no amendment, yes or no like we did with the base closings
leader harry reid called speaker boehner, that speaker boehner was running dictate toreship in the house. speaker boehner to his face to harry reid, go f yourself and used three other letters. harry reid said back to boehner. what are you talking about. boehner repeated verbatim, go f yourself. this is indication of the poison atmosphere up here. when the sequestration runs out next few months and congress must vote to increase the debt ceiling. it appears speaker boehner is fwirding for a fight on both fronts in a statement that he issued last night. he said in part, quote, now the focus turns to spending. the american people reelected a republican majority in the house and we will use it in 2013 to hold the president accountable for the quote, balanced approach he promised. meaning significant spending cuts and reforms to entitlement programs that are driving our country deeper and deeper into debt. the president last night indicate he is open to come promy to spending cuts but drew a line when it comes to the debt ceiling. here's the president. >> now, one last point i want to make. w
republicans have not been able or willing to do. the vote john boehner schedule and had to cancel is evidence of that in the present cost mind -- in the president's mind. we have part of what speaker boehner said. "the comments today are ironic as a recurrent theme was his unwillingness to stand up to anything in his own party. from the republican side of the aisle and speaker boehner, where are things at the moment? guest: the speaker had been hoping there would be a larger deal. the president was ready to move forward on in the time they had in front of them. this was in vision at one point to be the grand bargain which would incorporate in atomic reform and all sorts of budget cuts. changes to the tax rates. unemployment benefit changes. going all the way through to the debt ceiling being raised as part of it as well. that was not something that was ever really where things were headed by the time the negotiations got started. for speaker boehner, he wants to see the spending cuts that would go along with them. he does not feel the president has put forward enough of a plan to where the sp
war in a weekend. >> dave: he can get it done but there is still john boehner and the house republicans. i'm not modestly optimistic. anything through the house at this point. >> juliet: like lindsey gram said two days ago when you call a meeting publicly in washington it usually turns out to be the dog and pony show or theater basically. honestly calling at this late hour. they met for an hour. what could really go down in that type of meeting? things can go down but really, it's just at the edge. they waited so long. they all went on their vacations. >> clayton: here are some things on the table to answer those questions perhaps. generalities. we don't know what's been tabled. democrats still strong about this. they say they were, yeah, here is -- take a look at this. keeping tax cuts for those making $250,000 a year or less. we know that's there. that may shift because we are hearing from republicans they may be willing to go as high as $500,000 a year. of the extended. >> dave: that's my guess. >> extending unemployment tax benefits for 2 million folks still unemployed.
hear is the senate leaders are there. speaker boehner and minority leader nancy pelosi have yet to arrive, but now we're showing you live pictures. maybe somebody is going to get out of that car, and we'll see if any of the other leaders will be heading to the white house. this is speaker boehner right now heading into the white house. we'll keep you updated as this hour progresses here. >> indeed, meantime, more red arrows here on wall street as investors are awaiting for any signs of progress from the white house meeting which is about to get under way. right now we're sitting smack on 13,000. we've clawed back from being below that earlier on today. the nasdaq has also moved to the downside by half a percent as we speak. the s&p 500, as we speak, folks, is now down for the fifth straight day. i think it's down about 1.3% over the course of this week. so far let's see what happens over the last crucial hour of this trading day. >> so the clock is ticking. all eyes are on the white house. we've got i'm an javers there in washington as we wait for the white puff of smoke to come
clear. in order for that to happen john boehner basically has to agree that he's going to get a deal out of house with majority democrat votes, and i don't see why he does that before january 3rd. >> you're assuming the president has all the leverage, and i think the president would have a horrible legacy starting out with such turmoil, so i disagree. i think there's movement on the white house side on entitlements. >> rick, you do have to accept the fact that john boehner -- goes for the deal with democratic votes. >> he's about as acrimonious and able to get a deal done as sir harry reid. >> jared -- >> bottom lines, look at the vix, at 20, barely into anything. the market is clearly saying it doesn't care. hey, listen. i run my clients' money looking at the vix with my left eye, but 20, give me a break. you've got to thrill me above 30, above 35 before any of this has anything other than very interesting. >> if we get a deal, say sunday night we get a deal, right, do the markets rally, or does it depend on what the deal consists of? >> secretly, they are going to sell off on the news.
. a lot of negotiations have been between the president and speaker john boehner. >> november 16 was the last time and the only time they met. it's going to happen? we expected bombshell announcement? no. the thing to watch is are they going to keep talking? will these they are we going to see everyone tomorrow? in 1994, they would go to andrews air force base, can't david, but they would keep talking. -- camp david, and it would keep talking. what will happen on the floor of the house and the senate? the senate has to take a pay bill, and then it, and send it back. when they agreed to that? a third thing we need to watch is the tone. if everybody says they're hopeful, that is important i go back to last friday, after speaker boehner's plan b, which would have taxed millionaires had a higher rate, fizzled. he had a press conference that was angry and criticizing democrats, but at the end he said he was hopeful, and that was the news. host: maybe we should send your dog in the meeting. guest: she wants to know who will pay for dog food next week. host: if there is no agreement, wh
boehner will be re-elected. there will be a different house of representatives. however, still a republican majority but a small er majorit. boehner has a newly affirmed position and perhaps the dynamic is a bit different. but, you know, then again maybe it will be the same as it's been the last couple of years. >> richard, you know what i think bothers some people bothers me. it's that there is a small segment it seems of the republican caucus in the house of representatives who were unable to accept the results of the election in 2008 and steamed to continue to be unable to accept the results of the election in 2012. thus, they feel they have a license to hold the country hostage because they don't agree with two presidential elections, which is truly, truly if you think about it enough, which i choose not to, is rather bothersome. >> it's bothersome, and it doesn't fit their own agenda. in addition to object structure things they want to keep taxes down for most americans. it's not just about the tea party republicans, okay? the republican leadership, mitch mcconnell and joh
: indeed, but my hunch is it will not be a raucous affair. i would assume speaker boehner would have a hands-off approach, and say, "guys, i did my best, this came down the pike, we try to come up with the deal, and not get it done." his own caucus would not support it. we should have realized that was the danger. at the time, speaker boehner said to the president and harry reid, the senate needs to send something our way, and we will deal with it. i thought it was a humble and honest approach. now, they got it, and i do not think they're going to like it. host: again, the house comes into session around noon eastern time. keep your television on c-span as we continue our coverage of the so-called fiscal cliff. tactically, we went over the -- technically, we went over the cliff, but all reports are if this deal is approved by the house, they could retroactively fixed the tax hikes, and also before the sequestration or automatic spending cuts kick in wednesday, the have another day to deal with that as well. guest: nothing means anything around here. they can legislate things backward
. the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the ma
that the bill was being pulled. i don't enjoy saying this. i consider myself a personal friend of john boehner, and john boehner personally has been very helpful to me over the years. so it pains me to say this. the fact is dismissive attitude that was shown last night toward new york, new jersey, connecticut typifies i believe a strain in the republican party. i know this is not the place to discuss politics, but that politics seeps over into a governmental decision that was made. i can't imagine that type of indifference, that type of disregard, that cavalier attitude being shown to any other part of the country when people we are talking about real life and death situations here, just have the speaker walk off and not tell us. tell an aide to the majority leader who tells us that we tell the majority leader that the item that means life and death was taken off the calendar and is gone for this session? they say it's going to be brought back up in january. the fact is let's be real. we are not in session next week. the following week we are in session for two days. the following week is the
their lines in the sand. john boehner, house speaker told his troops yesterday that he would not go in there and cut any deals. mitch mcconnell is going in there, he spends all morning talking on the floor with his members in the middle of a bunch of votes over there, he's taking their thoughts about what they can expect over there. but there is no reason to think that there is going to be any big breakthrough here. the two sides are just too far apart and too entrenched. is essentially a last-ditch effort to try to basically see if something gets done. heather: talk to me more about that. what we are seeing is a plan c. extending tax cuts, unemployment benefits for people who are going to lose it at the end of the year, and laying the groundwork for growth and deficit reduction. that sounds like tamino guaranteed significant cuts either. >> that's right. part of the problem there for republicans is what they are giving him. they are giving up the tax leverage they would have for bigger and broader tax reform for next year. part of the reason why i don't think we get a deal out of l
deal. starbucks shares at this point down slightly, 48 cents. imagine john boehner going into starbucks and they write on the cup, come together. hello. lori: boehner, this is directly to you. tracy: exactly. howard schultz is on the campaign to fix the debt. he is one of the ceos that has come out. lori: he has nothing to lose being advocate, being outspoken. the stock is healthy the company is thriving. talk about where crowds are right now, any starbucks on any corner. tracy: i hope they do it with a big black sharpie. come together. write it on the cup. lori get the latte. lori: if washington gets back together and we get a debt deal and economy picks up? that is big if. there are industries that stand to add the most jobs. tracy: we'll tell you where you should be looking if you're ready for a change of pace. that is all next. stay with us. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box
at a time. it is john boehner. i am proud to work with him. >> is one particularly effective? >> one of the most important pieces of that is speakers who are willing to reach out to members and seek your advice and counsel and input, those speakers have a way of having a lasting impact upon the place. i have spent a number of years in the building. if sam raburn is not a reflection of that, i don't know who is. >> how about presidents under which you have served? >> ronald reagan. i had the honor of serving with him and he signed air quality district act for southern california. the first preschool program in the country was signed by ronald reagan. people hardly believed that but he was willing to use government in a way that was responsive to real challenged that government should be dealing with. i was proud that we had a chance to work together in connection with some of that. >> if you look across, it's a lot of history, 34 years altogether, is there a time when you look back and say those are the best years. those are the ones i enjoyed the most. >> every year that goes by it a
to pass through house republicans and boehner or not? >> yes. and the question about the mini deal would be, what we're talking about, just to make clear for our viewers, would be a temporary extension of tax cuts for incomes under $250,000, a couple of months, for example, a temporary turn-off of the sequester, the automatic cuts equally in defense and nondefense programs that nobody wants to happen, you temporarily turn those off, you extend unemployment benefits, you do something about doctor payments under medicare. if that happens, and clears the senate, there would be a bipartisan majority in the senate if it is allowed to get to the floor, then you would have to have speaker boehner agree to put that on the floor, it would pass the house almost certainly, but the speaker has been reluctant to put any bill on the floor for a vote that doesn't have the support of a majority of his own members, of republican members. he would have to breach that rule in order for it to happen before january 1st. >> which is no small feat, as we see. before we let you go, this business has been very f
be controlled by john boehner. so you still have that divided congress. but the calculation is not, you know, a numerical one. it's the idea that if they go home -- first if they go home for christmas break, they'd feel the pressure, but it doesn't seem like that's coming. if they go over the cliff and they do mess with the debt ceiling, that people are going to get freaked and spooked because you'll start hearing stories about social security recipients facing the prospect of smaller checks from the government, unemployment insurance completely dried up, payroll tax cut is a big thing. your paycheck is going to start showing more is taken out of it for the payroll tax. and that will, in turn, cause the type of pressure on the new income in congress to get something done. it's interesting that we led off with kay bailey hutchison who's retiring, doesn't have a lot of the political pressures that others have. she said let's make a deal. her prediction, probably the right one, they're going to go home. suddenly once it passes, obama wim introduce his own package which will look like what he's
another controversy that has come out of this, and this is because house speaker john boehner did not bring forward this vote on hurricane sandy disaster aid for new jersey and new york. it's got a lot of people who are scratching their heads and are angry this did not happen. i want you to hear what one of the fellow republicans said against boehner. >> when katrina hit, ten days later, $60 billion. $100 billion altogether. now we have to hear from people in florida, louisiana, and texas and alabama and, yes, some people from california and the midwest, when they have a disaster, and we were there for them. the rules change for us, and it is now not an emergency and the federal government doesn't have a role in this? absurd, absolutely absurd! we demand nothing less than we have given the rest of the country, an emergency disaster means emergency and disaster. >> nobody wants a special favor. nobody is looking for a gift or anything else. when your people are literally freezing in the winter and they're without food, without shelter and without clothing and my own party refuses i
, that's actually all up to john boehner, as i see it, because if we were to decide to bring the president's most recent small car compromise to the house i actually believe it would pass. the problem for him it would probably pass with mostly democrat vote, but i think it could get through the senate. that's the only scenario i see by which we avoid going over the cliff. >> wait a minute. >> at least temporarily. >> wait a minute, jared. john boehner said it's up to the president and harry reid so are both sides standing at the precipice waiting for each other to make the next move. >> not really. it really is all up to john boehner to decide whether he wants to bring this vote to the house floor. if he doesn't, i would put on either your cliff bungee cord or your cliff parachute and that's actually an important difference. >> we would like a bungee cord and a parachute. >> right. >> but i would like to know maybe we have neither. what do you think happens to the market, matt, in either scenario, deal or no deal? >> i can't imagine we're going to get a deal done with any sig
and speaker boehner has made the same argument. >> thank you so much. we want to show people what is going on with the after markets because even though john says people are optimistic the markets are not optimistic. right now if the dow jones industrial average were to open at this moment it would be down 315 points. that's a reflection of the futures trading that happens in the after-hours. we'll see how asia opens on monday and right now the markets do not like what they see. they are not optimistic at this point and maybe if a mini deal gets done, a mini deal is not enough to deal with what the country faces. after all of this time the president still wants congress to come up with a plan instead of assuming the leadership mantle himself. let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. sir, have you conceded you're not getting spending cuts are you voting on raises taxes on people who make over $250,000 come sunday or monday, whatever it is? >> sequestration is a debt ceiling deal from last year. we made a deal and
pass. >> so harry reid there calling house speaker john boehner a dictator for not bringing a bill to the floor that would extend the bush tax cuts for all those who make less than $250,000 a year. now that bill if it was brought to the house floor would have to pass with democratic votes. speaker boehner has said that he wants to pass something ultimately that can be con by t done by the majority of the majority. >> i don't understand how you can call him a dictator when he can't get his own bill passed. that doesn't make any sense to me. if he was a dictator, he could have done it. >> what we're watching here is a lot of finger pointing. the house side wants the senate to do something. the folks on the senate side said, wait a second, john boehner is who to blame. at the white house, they're pointing their finger at capitol hill. there's a lot of finger pointing but not a whole lot of action. >> all right, eamon. thanks so much. >> you bet. >>> as negotiations continue on washington, that is a bit of an overstatement, check wall street, the fear index is spiking as the markets dr
. they are not here. john boehner seems to care more about keeping his speakership than about keeping the nation on sound financial footing. it's obvious what's going on around here. he is waiting until january 3 to get reelected as speaker before we get serious with the negotiations, because he has so many people over there that will not follow what he wants. that's obvious from the debacle that took place last week's. host: referring to the vote yesterday on speaker boehner's plan b. guest: they might feel they have better numbers in the house than they do now later. he would be able may be to push a plan through without as much republican support. i doubt it. it would be really risky move and then we are in early january without a deal still. host: that's what you wrote in the washington journal this morning -- the wall street journal. republicans participating in a conference call yesterday said -- guest: that's right. the republicans feel like if they wait this out, they might have a clean slate on the taxes to work with. it would not be accused of increasing taxes if taxes have already gon
. then from the republican controlled house of representatives, the top republican john boehner has rejected president obama's previous offers and the morse -- most senior democrat in the house, nancy pelosi. what is the cliff and can be avoided? >> the house of representatives will be going back into session sunday but at this point we do not know what kind of measure they have before them that they can consider for a vote. there has been no indication from the white house or the republican leadership that they are anywhere near any kind of makings of a deal that they could present to the house republican leadership -- or the house republican rank-and-file who so far have been adamantly opposed to tax increases at any level of income, which is an absolute prerequisite for president obama. if they do not come to some kind of agreement, but that tax to be voted on -- and there is doubt that it is logistically possible before new year's day -- then the most immediate impact would be the loss all unemployment relief checks for 2 million americans as well as payroll tax holiday that will come to
, they went home for their new year's eve. they are gone. john boehner, the speaker, said, they stay close. you may be called back." this means that the u.s. is definitely going to go over the fiscal cliff, at least technically. what is happening in the senate, the upper house, is that they are still working hard to bridge the gap. we are told by mitch mcconnell, the minority leader there, he says they have got a deal on taxes, but on the spending issue, the sequester issue, as they call is, they have not got a deal, but they are very, very close, so, to be honest with you, we are in no man's land. they are still meeting. i think the feeling is is that they will close the gap. they will come to some agreement, and really to make the point to the rest of the world, i think the senate will vote monday before the deadline. i cannot say, but that is the strong rumor. we are waiting to see, particularly because the house is gone and will not be able to vote until tuesday. >> what do ordinary americans make of this? they see the political squabbling, and the politicians cannot seem to sort it ou
than the norm. >> president obama and today's edition of "meet the press." speaker boehner in particular said "the president has never called for the senate to act on those bills, he has allowed the democratic controlled senate to lead our economy to the edge of the fiscal cliff. congress people from both parties are searching for a bipartisan solution. that is the leadership that america needs, not what we saw from the president this morning ." those of the comments from speaker boehner. the house has gaveled out. we expect them back in about two hours. let's go to newbury port. caller: thank you for c-span. i do not understand where this $250,000 number comes from. i am 70 and have never been asked to make a sacrifice by any congress. it just seems to me that if the average income in most states -- to ask people making $125,000 or more, to ask them to contribute more, that seems to be a no- brainer. i do not see why people in this country are not ready to make a compromise. let's face it, we will either all have to pay slightly more taxes and accept the fact that our bene
of market sense, then you're losing. if senator reid says something and speaker boehner says something else, nothing fundamental has changed. white stock investors are buying and selling based on political speeches is beyond me. host: what index will you be watching? here is a headline from the wall street journal -- what index will you be watching? guest: think consumer confidence is the big indicator. there are a number of ways to measure it. if you go back to the august debt ceiling deal, i think people did not even realize in washington, but you look at the data, he saw a major drop in consumer confidence around the time and it became clear that politicians were arguing and squabbling and were not coming to terms. i think that is a severe problem in this recession because consumer demand is not strong enough to propagate a strong economic recovery. anything that dampened consumer demand is a problem. watching these politicians not getting together, even if they get a deal, the damage there is down. you see your leaders not being able to take simple steps. the deal they are talking about
and speaker boehner says something else, nothing fundamental has changed. white stock investors are buying and selling based on political speeches is beyond me. host: what index will you be watching? here is a headline from the wall street journal -- what index will you be watching? guest: think consumer confidence is the big indicator. there are a number of ways to measure it. if you go back to the august debt ceiling deal, i think people did not even realize in washington, but you look at the data, he saw a major drop in consumer confidence around the time and it became clear that politicians were arguing and squabbling and were not coming to terms. i think that is a severe problem in this recession because consumer demand is not strong enough to propagate a strong economic recovery. anything that dampened consumer demand is a problem. watching these politicians not getting together, even if they get a deal, the damage there is down. you see your leaders not the deal they are talking about is identical to the deal president obama talked about the day after the election. the time in betwe
, tongue in cheek and he's a comedian. >> there's a photo of mcconnell boehner. >> al-qaeda isn't in the same league as congress when it comes to terrorizing americans and links to this other article and the other article goes on to elaborate on the tweet and presumably taking the headline from the piece and linking to it, but dave brings up an interesting point when you tweet out something like this, and while retweets and things aren't your personal viewpoint, they could be viewed as such. and people say he's retweeting a link. >> juliet: the article, it's humorous article basically al-qaeda the official statements from al-qaeda saying, look, we're going to back off terrorizing you the united states because your congress people do enough during the so-called fiscal cliff showdown convinced the terrorists they had been outdone and said the idea of holding the entire nation hostage with a clock ticking until the ends of the year-- >> it wasn't terribly funny at all. but to dave's point when you're tweeting out links to articles like that, he didn't say here is a funny piece with
:00 a.m. eastern time and that will get him back thursday morning where he & and speaker boehner need to figure out how to bridge a 400 million dollar gap in their positions to avoid the fiscal cliff. the last time we heard from the president, he thought a break would benefit and bring lawmakers together. to make a difference >> everybody can cool off and drink egg nogand have christmas cookies and sing christmas carrolls and enjoy the company of loved ones and ask every member of congress when they are back home to think about that. think . obligations of people who cent us here. >> speaker boehner is expected to return to dc any time he with drew the republican plan b deal that extends tax cuts to everyone under millionaire. he was confident that the cliff could be avoided last time we heard from him. >> of course, hope springs eternal and i know we have in us to come together and do the right thing. we'll work on a plan to protect families and small businesses. >> and so there is time for a in person meeting. >> we are getting some twitter for rick. what is new york city looking li
congress goes out of session. meanwhile, speaker boehner says it is one of his first priorities when the new congress comes in later in the week, tyler. actually up to you, becky. >> thank you. >>> i guess we will get an earful from chris christie when he sounds off on this. >>> we now have a deal in washington. this is a deal for now anyway. maxine waters california democrat. she voted nor bill. jack kingston is georgia republican. he voted no. our next deadline is match. spending cuts are key. how do we get there from here? how do we do it without wring bringing the final system to the brink of collapse again? well have their answers right after the break. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> with the fiscal cliff price
president obama and house speaker john boehner for any kind of break through, millions of married couples facing a higher tax burden if we go over the cliff. the bush era tax law eliminated the marriage clause meaning that incomes of couples earning as little as $80,000 would be subject to taxation at the rate of the higher earning spouse. now as far as their wealth preservation strategies, a nationwide survey done by northern trust found high net worth persons, more than 5 million in assets, are much more proactive in anticipating the tax consequences of going over the cliff than those with a million dollars or less in assets. that same survey had 44% of high net worth individuals saying their top priority for the country is economic growth and reducing unemployment versus 19% who are reducing the federal budget deficit. >> all right, hampton. thank you very much. >>> the finance.yahoo.com poll puts you in the shoes of a member of congress. how would you handle the fiscal cliff? go vote finance.yahoo.com. the results are coming up. there you see your options. michelle. >>> tyler, one of
john boehner. as far as we know the two of them have not really been talking. the lines of communication are theoretically open but both of them seem to be standing their ground. one other factor to consider here is something we just heard from the treasury secretary tim geithner telling us we are rapidly approaching the nation's debt ceiling. we could hit it by the end of the year. there are accounting tricks we can use to prevent us from hitting that by the end of the month. it shows you how complicated this is getting. one other factor that was going to become part of the grand bargain if we ever reach grand bargain. right now they could be looking for a stopgap measure. >> we have heard that before a stopgap measure. thank you very much. appreciate it. >>> you hear those two key words there accounting gimmicks. let's talk about stories you can bank on this morning. lauren simonetti from the fox business network has more on the accounting gimmicks and the statement about the debt ceiling. the treasury is taking steps to change things? what are they doing and how does
as the ndesident and speaker boehner tried but failed to come up with omeeal. and it's kind of fitting that they're swooping in now at the last minute. that's exactly what they did during the debt crisis last summer, and the legislation they came up with, jeff, contributed o the fiscal cliff that we're facing right now. >> glor: the president says this just keeps happening again and again. nancy cordes, thank you. income taxes won't be the only taxes going up if there's no agreement. estate taxes paid by those who inherit property will also jump. here's john blackstone. >> reporter: jeff page owns 120- cre vineyard in california's napa valley. but when his great-grandfather started farming here in the late 1800s, this was cattle country. >> both sides of the family came en before the turn of the century, and farmed orchard fruit and cattle. he reporter: but much of the land he grew up on is gone, sold to pay estate taxes after his grandfather's death. had land back in the hills over there? >> yeah. >> reporter: had to sell it all. >> had to sell all of it? i reporter: estate tax? >> yes. >> repo
speaker boehner came to the capitol but left without comment. issue number one in the talks is amending the bush era tax cuts, which if unchanged will expire and raise taxes on all americans. starting tuesday, the average tax hike will be three to 5% per person. >> let's keep taxes exactly where they are on the first $250,000 of everybody's income. >> reporter: the president campaigned to increase taxes only on families making more than $250,000 per year. almost two weeks ago, the president offered a compromise to raise taxes only on income above 400,000, hoping that might win republican support. >> i have gone at least halfway. >> reporter: the senate is also negotiating an extension of unemployment benefits for some 2 million jobless americans, without a deal those checks will stop next week for this mother of five who has been searching for work since february. >> if congress does not extend the unemployment benefits, then i would be without a home and i really don't know what else we would do. >> reporter: the deal under discussion in the senate right now doesn't even include the bi
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